2015 is a key year for the generations in the workplace. It is the year of the “Generational Turnover” or “transition” and the last year in which the Boomer Generation (now aged 51 to 69) will be the largest generation of working age. Boomers are being replaced in the workforce by Gen Y (ages 19 to 35) and Gen X (ages 36 to 50). Baby boomers are now retiring and Gen Y, with a population of 82 million and Gen X (population 49 million) will have the greatest presence in the workforce in the next 24 months. This means that the way people work, shop, live and learn is going to undergo a significant change.
How does this impact the Fashion, Style and Image consultant? On several levels – the first of which is that the retiring boomer now needs a whole different wardrobe. Her needs are now shifting from a work wardrobe to a casual, retired lifestyle wardrobe. For the generations moving into positions of power and competition in the workplace the needs will be for a more professional and appropriate wardrobe.
Additionally if your niche market has been the boomer generation you are going to have to re-think your niche and begin paying attention to the needs of the 19 to 50 year old's who represent the largest group in the workforce in the next 12 to 24 months.
For the next five years the demographic for us to nurture is going to be Gen Y as they become the largest group to mature into 2020. Generation Y age group will be 24 to 40 by then and historically this age group has been the base one for our bread and butter image services.
Start thinking now how you can tailor your services to this big (some would say HUGE) market. You have about a year to begin the change in your business model.